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MakeMyTrip Shares Have a Powerful Tailwind

By:
Lucas Downey
Published: Feb 22, 2024, 16:33 UTC

MakeMyTrip Ltd. (MMYT) has defied the bears, jumping 22% in 2024. This rally shows the quiet footprints of Big Money.

Nasdaq, FX Empire

In this article:

MakeMyTrip Stock Reveals Strong Demand

Institutional volumes reveal plenty. For many months, MMYT has enjoyed what we believe to be heavy institutional support.
Each green bar signals unusually large volumes in MMYT shares, pushing the stock higher:

Source: www.mapsignals.com

Plenty of technology names are under accumulation right now. But there’s a powerful fundamental backdrop going on with MakeMyTrip.

MakeMyTrip Fundamental Analysis

Institutional support coupled with a healthy fundamental backdrop makes this company worth investigating. As you can see, MMYT has had positive sales & EPS growth in recent years:

  • 3-year sales growth rate (+37.7%)
  • 3-year EPS growth rate (+60.9%)

Source: FactSet

EPS is estimated to ramp higher this year by +64.4%.

Now it makes sense why the stock has been powering to new heights. MakeMyTrip is gaining due to the forward earnings picture.

Marrying great fundamentals with our proprietary software has found some big winning stocks over the long-term.

MakeMyTrip has recently been a top-rated stock at MAPsignals. That means the stock has unusual buy pressure and growing fundamentals. We have a ranking process that showcases stocks like this on a weekly basis.

It’s made the rare Top 20 report numerous times. The blue bars below shows when MMYT was a top pick…cutting through the noise.

Source: www.mapsignals.com

Tracking unusual volumes reveals the power of money flows.

This is a trait that most outlier stocks exhibit…the superstars. Money flows often reveal tomorrow’s leaders…today.

MakeMyTrip Price Prediction

The MakeMyTrip rally isn’t new at all. Big Money buying in the shares is signaling to take notice. Given the historical gains in share price and strong fundamentals, this stock could be worth a spot in a diversified portfolio.

Disclosure: the author holds no position in MMYT at the time of publication.

If you are a Registered Investment Advisor (RIA) or are a serious investor, take your investing to the next level, learn more about the MAPsignals process here.

About the Author

Lucas Downeycontributor

Lucas is a well-versed equity investor and educator. He currently is co-founder of research and analytics firm, MAPsignals.com, which focuses on finding outlier stocks by following the Big Money.

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